Oaktree Capital Group LLC agreed to sell packaging company Tekni-Plex Inc. to private-equity firm American Securities LLC in a transaction valued at more than $700 million, according to a person with knowledge of the deal.
Endo Health Solutions Inc., a maker of painkillers facing declining revenue for its main treatments, agreed to buy Canadian drug company Paladin Labs Inc. for about $1.6 billion to expand in that country and emerging markets. Endo shares soared the most in 13 years.
Houlihan Lokey, the closely held investment bank that started advising on secondary sales of private-equity and hedge-fund stakes fours years ago, plans to more than double staff in that unit to 20 professionals or more as it expands into sales of other illiquid assets.
TCW Group Inc., the $128 billion asset manager bought by Carlyle Group LP in February, is expanding its alternative offerings under new head Jess Ravich with the purchase of Craton Equity Partners. Terms of the transaction weren’t disclosed.
Gramercy Capital Corp. lenders have asked Houlihan Lokey for advice on strategic options as the real estate company weighs restructuring about $800 million of debt, according to two people with knowledge of the situation.
Washington Mutual Inc. , the official equity holders’ committee and some creditors are trying to outsmart one another with legal strategies to push through or kill the global settlement that underpins WaMu’s reorganization plan.